Good morning team! It's OKAY to spend your hard-earned money on the pleasures of life. Life IS short and your tastes can and will differ from others. The PROBLEM, however, is so many of us tend to either borrow or live paycheck-to-paycheck to fund our desired lifestyle, leaving yourself vulnerable. The cause of this vulnerability is simple...it comes from not building yourself a margin of safety. The solution? You distance yourself from risk when you save and invest, especially on a regular basis. When you make paying yourself first a habit, you will automatically adjust your lifestyle just like you may do with 401K contributions). Delayed gratification is a discipline, and you must have patience to build wealth. It's no different than going to the gym, studying through school, or raising a child. It takes time, patience, and practice along the way. While life is short and you must enjoy it, you should not settle for remaining financially dependent because the worst can and will happen. Financial independence is the goal because at the end of the day money is only a tool, a means to an end. It enables you to take care of your family, help others in need, and make many of your dreams a reality. Don't let it ever become your end but rather make your time count on this earth by putting it to good use!

Hi everyone. I have received a 400K settlement. I would love some ideas on how best to invest and reduce taxes. I currently have two investmentproperties with mortgages. And one principal residence with mortgage. I have 100 grand in room in both mine and my husband's tfsa's. What should we put in the tfsa's? Also for the other 200k where should I put it so that it would be best sheltered by taxes. I have a pension so I don't think an rsp is best. My husband could do an rrsp. What mix portfolio? I'd like to do a higher risk. I'd like to retire by 55 which is in about 13 years. Index VFV XIU XQQ Dividend growth... thoughts? TSX:GSY TSX:IMO TSX:POW TSX:BEP.UN (TSX:VDY) TSX:XEI (TSX:CDZ)